2. 2
A RECORD YEAR FOR DOM DEVELOPMENT GROUP
3 906
UNITS SOLD IN RETAIL MARKET
+ 26 % YoY
PLN 460 m
NET PROFIT 2023
+ 12% YoY
PLN 389 m
CASH(2) AS AT 31.12.2023
with no active credit debt
NPS(1)
71 pts.
CUSTOMER SATISFACTION INDEX
at a very high level
PLN 424 m
DIVIDENDS AND INTERIM
PAYMENTS
(1) NPS (Net Promoter Score) is an indicator calculated from customer satisfaction surveys, with values ranging from -100 to 100 points; data for Polish residential developers is not
available; the average value for UK developers is 42 points (National New Home Customer Satisfaction Survey, March 2023);
(2) Includes cash in open escrow accounts (PLN 103 million).
3 831
UNIT DELIVERIES
+5% YoY
3. 3
2023 FINANCIAL SUMMARY
REVENUE
2023 2022 Change
2 550 m PLN 2 419 m PLN +131 m PLN
+5%
32% GROSS MARGIN
2022: 31%
33% ROE
2022: 33%
NET PROFIT
2023 2022 Change
460 m PLN 410 m PLN +50 m PLN
+12%
18% NET MARGIN
2022: 17%
GEARING NET DEBT
31.12.2023 31.12.2022 31.12.2023
9% (0.3)% 131 m PLN
4. 4
MARKET OVERVIEW IN 2023
• Strong recovery in housing demand – sales increase of 45% YoY across Poland's seven largest residential
markets, with growing share of mortgage-financed purchases, helped by:
• KNF relaxation of safety buffer when calculating affordability - resulting in afordability increasing by
up to 25%
• announcement and implementation of "2% Safe Credit" programme
• interest rate cuts, following cycle of increases in 2021-2022
• Significant increase in value of granted mortgage loans - up 40.5% YoY (as per BIK)
• Low supply of new flats – a reduction in the offer in selected markets to a level equivalent to only half
the annual sales volume
• Increase in flat prices – across four largest residential markets in Poland prices grew by an average 13%
YoY (NBP data), as a result of strong demand and tight supply
• Stable construction costs – no cost pressure on margins
5. 5
ANNUAL NET SALES
No. of units
SALES VOLUME UP BY 26%
Net sales (units) in retail
market
2023 2022
Change
YoY
Warsaw 1 690 1 738 (3)%
Tri-City 1 111 793 40%
Wroclaw 647 354 83%
Krakow 458 208 120%
Dom Development
Capital Group
3 906 3 093 26%
* In 2022, the Group contracted 397 units in Warsaw for an institutional investor from the PRS segment (Private Rented Sector)
3,661 3,756
4,066
3,093
3,906
397
2019 2020 2021 2022 2023
*
6. 6
NET SALES VALUE
Net Sales Value
(PLN m)*
2023 2022
Change
YoY
Warsaw 1 347 1 257 7%
Tri-City 708 513 38%
Wroclaw 390 178 119%
Krakow 301 109 176%
Dom Development
Capital Group
2 746 2 057 33%
PLNm
*Excluding PSR segment transactions
INCREASE IN VALUE OF UNITS SOLD BY 33%, TO A RECORD PLN 2.75 BLN
1,941
2,131
2,575
2,057
2,746
2019 2020 2021 2022 2023
7. 7
Average transaction
value (PLN k)
2023 2022
Change
YoY
Warsaw 844 721 17%
Tri-City 669 640 5%
Wroclaw 644 530 22%
Krakow 702 562 25%
Dom Development
Capital Group
744 671 11%
2023 SALES SEGMENTATION
82% OF UNITS SOLD WITH A VALUE OVER PLN 500 K
Transaction value includes the price of the flat plus any fit-out, storage cell and parking space.
18%
20%
19%
13%
8%
21%
up to PLN 500k
PLN 500-600k
PLN 600-700k
PLN 700-800k
PLN 800-900k
over PLN 900k
Segmentation value of the DOM
Development Group residential
sales in 2023
8. 8
OFFER
Number of units in the offer
RAPID DEVELOPMENT IN WROCLAW LOCATION DUE TO FAST START-UP OF NEW PROJECTS
Offer by market
31.12.
2023
31.12.
2022
Change
YoY
Warsaw 795 794 0%
Tri-City 598 586 2%
Wroclaw 773 383 102%
Krakow 238 319 (25)%
Dom Development
Capital Group
2 404 2 082 15%
2,255
2,482 2,480
2,082
2,404
31/12/2019 31/12/2020 31/12/2021 31/12/2022 31/12/2023
9. 9
PROJECT LAUNCHES IN 2023
WARSAW
100 units
where three districts meet–
Bielany, Żoliborz and Bemowo
126 units + 60 units (2 phases)
4 minutes from Dworzec
Wileński underground station
405 units
Close to Jerozolimskie Ave, 3
min from S8 motorway and
South Ring road
89 units
second metro line station
planned in the centre of the
development
157 units
on Polski Walczącej Ave
319 units
600m from Jerozolimskie railway
station in the district of Włochy
182 units
900m from Starzyński roundabout
in the district of Wisła
71 units
in the heart of
leafy Mokotów
122 units
Easy access to the city centre and
beyond
108 units
in the heart of the
leafy district of Wawer
272 units
In the district of Prądnik
151 units
5 minutes from Market Square
KRAKOW
10. 10
PROJECT LAUNCHES IN 2023
221 units in Gdank
in the Piecki-Migowo district, commonly
known as Morena; one minute to the
tram stop
189 flats in Gdansk
in the Piecki-Migowo district, commonly
known as Morena; one minute to the tram
stop
114 units in Gdansk
in the young district of Gdańsk - Ujeścisko
132 flats in Pogórze
in the seaside area in the Foothills near
Gdynia; 10 minutes to the beach
TRI-CITY
64 units in Rumia
in Rumia, on the edge of the Tricity
Landscape Park
51 units in Pogórze
in the seaside area in the Foothills
near Gdynia; 10 minutes to the beach
124 units in Rumia
a housing estate for young people
looking for their first apartment
11. 11
PROJECT LAUNCHES IN 2023
WROCLAW
397 units
just 10 minutes from
Market Square
115 units
in the cosy neighbourhood of
Krzyki-Jagodno
159 units
on nature’s doorstep with excellent
transport links to the city centre
202 units
located in Psie Pole with good transport
links to the city centre
173 units
located in Maślice, one of Wroclaw's
greenest areas
88 units
Premium development surrounded
by boulevards, Meadow Park and
Rakowiecki Forest
152 units
In Wroclaw's Old Town
12. 12
UNITS ON PROJECTS UNDER CONSTRUCTION
No. of units under construction
GROWTH OF UNITS UNDER CONSTRUCTION, MAINTAINING SATISFACTORY MARGINS
Units under
construction
31.12.
2023
31.12.
2022
Change
YoY
Warsaw* 2 857 3 053 (6)%
Tri-City 1 823 1 795 2%
Wroclaw 1 404 597 135%
Krakow 621 334 86%
Dom Development
Capital Group
6 705 5 779 16%
* Including PRS segment transaction
4,718
5,298
5,930 5,779
6,705
31/12/2019 31/12/2020 31/12/2021 31/12/2022 31/12/2023
13. 13
Land Bank Owned Controlled Total
Change
YoY
Warsaw 7 031 3 941 10 972 16%
Tri-City 4 122 406 4 528 (9)%
Wroclaw 1 189 1 041 2 230 35%
Krakow 1 299 741 2 040 93%
Dom Development
Capital Group
13 641 6 129 19 770 15%
LAND BANK - OWNED AND CONTROLLED
RECORD LAND BANK CAPACITY - ALMOST 20,000 UNITS FOR DEVELOPMENT
Number of possible units for construction
7,876
6,691
9,946
13,048 13,641
6,339 7,975
7,039
4,077
6,129
14,215 14,666
16,985 17,125
19 770
31/12/2019 31/12/2020 31/12/2021 31/12/2022 31/12/2023
Plots owned Plots controlled
14. 14
DELIVERIES
RECORD NUMBER OF UNITS DELIVERED WITH NPS* AT A HIGH OF 71 POINTS
No. of units
Deliveries of units 2023 2022
Change
YoY
Warsaw 1 928 1 921 0%
Tri-City 1 045 1 078 (3)%
Wroclaw 618 390 58%
Krakow 240 277 (13)%
Dom Development
Capital Group
3 831 3 666 5%
*NPS (Net Promoter Score) is an index calculated from customer satisfaction surveys, with values ranging from -100 to 100 points; data for Polish residential developers is not
available; the average 2023 value for UK developers was 42 points (National New Homes Customer Satisfaction Survey, March 2023).
3,482
3,006
3,332
3,666
3,831
62 63
70 70 71
0
10
20
30
40
50
60
70
80
90
100
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
2019 2020 2021 2022 2023
NPS
15. 15
PROFIT AND LOSS ACCOUNT
ANOTHER RECORD YEAR FOR DOM DEVELOPMENT GROUP
*IAS 15 (revenue from sales of finished goods recognised on handover);
data in PLN m
Profit and Loss Account 2023 2022 Change
Sales Revenues, including 2 550,3 2 419,3 +5%
Revenue from the sale of finished goods* 2 429,5 2 133,9 +14%
Deliveries (units) 3 831 3 666 +5%
Revenue from sale of finished goods per unit (PLN’000) 634,2 582,1 +9%
Gross Profit on Sales 815,1 755,8 +8%
Gross Profit Margin 32,0% 31,2% +0,7 p.p.
Operating Profit 558,2 502,0 +11%
Operating Profit Margin 21,9% 20,7% +1,2 p.p.
Profit Before Tax 573,3 512,6 +12%
Profit Before Tax Margin 22,5% 21,2% +1,3 p.p.
Net profit 460,3 410,3 +12%
Net profit margin 18,0% 17,0% +1,1 p.p.
EPS (PLN) 17,94 16,07 +12%
17. 17
ROE AND GEARING
COMBINING HIGH EQUITY YIELD WITH LOW DEBT
*total loans and bonds less cash (including funds in
trust accounts)
24.5%
27.9% 28.1%
32.8% 32.6%
14.3%
-23.0%
-20.2%
-0.3%
9.0%
2019 2020 2021 2022 2023
ROE
annual net income
/ equity opening balance
Gearing
Net interest-bearing debt*
/ equity closing balance
18. 18
CUMULATIVE NET SALES TO BE RECOGNIZED IN P&L
(UNITS SOLD BUT NOT DELIVERED)
PLNm
HIGH REVENUE POTENTIAL TO BE REALISED IN COMING QUARTERS
* Excluding PRS transactions
0
500
1,000
1,500
2,000
2,500
3,000
3,500
I III V VII IX XI I III V VII IX XI I III V VII IX XI I III V VII IX XI I III V VII IX XI I III V VII IX XI I III V VII IX XI I III V VII IX XI I III V VII IX XI I III V VII IX XI I III V VII IX XI
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Units sold and not transferred Value
31.12.2022 4 555 units 2 978 PLNm
31.12.2023 4 627 units* of which: 3 283 PLNm
• 597 units completed;
• 4 030 units under
construction,
of which 2 399 are due for
completion in 2024
19. 19
BALANCE SHEET
STRONG BALANCE SHEET A COMPETITIVE ADVANTAGE FOR THE GROUP
PLNm
ASSETS 31.12.2023 31.12.2022 Change
Current assets, including: 4 407 3 937 +12%
Cash 389 374 +4%
Incl. escrow accounts 103 70 +47%
Inventories, including: 3 837 3 443 +11%
land and projects under construction 3 511 3 055 +15%
Finished units, parking places and storage cells 205 287 (29)%
Fixed Assets 157 175 (11)%
TOTAL ASSETS 4 563 4 112 +11%
EQUITY AND LIABILITIES 31.12.2023 31.12.2022 Change
Equity 1 450 1 413 +3%
Total liabilities 3 114 2 699 +15%
Long-term liabilities, including: 690 440 +57%
Interest-bearing debt (bonds and loans) 470 260 +81%
Short-term liabilities, including: 2 424 2 258 +7%
deferred income 1 734 1 551 +12%
interest-bearing liabilities (bonds and borrowings) 50 109 (54)%
TOTAL EQUITY AND LIABILITIES 4 563 4 112 +11%
FIXED
OTHER
INVENTORY
CASH
EQUITY
EQUITY
LONG-TERM
LIABILITIES
BONDS
OTHER
SHORT-TERM
LIABILITIES
TRADE
AND
OTHER
PAYABLE
S
BONDS
LEASING
DEFERRED
INCOME
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
2,400
2,600
2,800
3,000
3,200
3,400
3,600
3,800
4,000
4,200
4,400
4,600
ASSETS LIABILITIES LIABILITIES
mln zł
20. 20
DEBT MATURITY STRUCTURE
HIGH LEVEL OF AVAILABLE FINANCING AND STAGGERED BOND MATURITIES ALLOWS US TO RESPOND
FLEXIBLY TO OPPORTUNITIES AS THEY ARISE AND MANAGE SHORT-TERM LIQUIDITY
389 PLNm
CASH*
560 PLNm
UNUSED CREDIT LINES
As at 31.12.2023
*of which PLN 103m in open trust accounts
50
100 110
0
260
2024 2025 2026 2027 2028
Bonds Bank loans
mln zł
21. 21
CASH FLOW
ROBUST CASH FLOW FROM OPERATING ACTIVITIES
PLN m
Cash flow 31.12.2023 31.12.2022
Profit/ (loss) before tax 573,3 512,6
Changes in inventory (371,7) (191,9)
Changes in prepayments and deferred income 85,6 (56,2)
Other adjustments 139,0 57,7
Cash flow generated from operating activities 425,3 322,2
Interest paid and received (10,5) (8,9)
Income tax paid (147,1) (109,7)
Cash flow from operating activities after interest and tax 267,7 203,6
Cash flow from investing activities (15,7) (215,8)
Net cash flow from financing activities (270,0) (290,6)
Increase / (decrease) in net cash and cash equivalents (17,9) (302,8)
Cash and cash equivalents – opening balance 304,2 607,0
Cash and cash equivalents – closing balance 286,3 304,2
22. 22
SUMMARY: DOM DEVELOPMENT GROUP IN 2023
• Very good sales results (3 906 net units sold, growth of 26% YoY) - consolidated leading position on the
Polish residential market
• Rapid expansion of operations in Krakow and Wroclaw
• Increased share of mortgage–financed purchases of flats to 41%, but cash transactions remain the most
common purchase method (59% of sales in 2023)
• Timely handover of record number of 3 831 units to buyers, with very high customer satisfaction index
(NPS of 71 points)
• A record 32% gross margin and PLN 460m net profit
• Strong balance sheet: PLN 389m cash with low debt
• 6 705 units under construction; 2 194 units in sales offer at close of 2023
• Record land bank size – almost 20,000 units to be built
• Record dividend payment for 2022 of PLN 283m (PLN 11 per share) and first ever interim dividend
payment for 2023 of PLN 141m (PLN 5,50 per share)
24. 24
COMMENCEMENT OF NEW HANDOVERS IN 2024
PROJECT / PHASE LOCATION
NO. OF
UNITS
COMMENCENT OF
HANDOVERS
PROJECT / PHASE LOCATION
NO. OF
UNITS
COMMENCEMENT
OF HANDOVERS
Q1
Apartamenty Solipska phase 2 Warsaw 91 Jan’24
Q4
Osiedle Komedy phase 5 Wrocław 115 Oct’24
Przystanek Międzylesie phase 1 Warsaw 110 Jan’24 Beauforta etap 2 phase 2 Tri-City 87 Oct’24
Doki etap 1 phase 3 Tri-City 311 Jan’24 Perspektywa etap 1 phase 7 Tri-City 204 Oct’24
Nowodworska Wrocław 36 Feb’24 Braniborska 80 phase 1 Wrocław 187 Oct’24
Metro Zachód 4 phase 3 Warsaw 71 Mar’24 Apartamenty Nad Rzeką Wrocław 152 Oct’24
Q2
Apartamenty Koło Parków (Ciołka) Warsaw 133 Apr’24 Osiedle Urbino 2 phase 1 Warsaw 139 Oct’24
Osiedle Jagiellońska 55 phase 2 Warsaw 137 Nov’24
Metro Zachód 4 phase 5 Warsaw 44 Apr’24
Konstelacja etap 1 phase 2 Tri-City 31 May’24 Osiedle Jagiellońska 55 phase 3 Warsaw 45 Nov’24
Osiedle Przy Alejach phase 1 Warsaw 122 Nov’24
Metro Zachód 4 phase 4 Warsaw 85 May’24
Apartamenty Białej Koniczyny phase 1 Warsaw 129 May’24 Osiedle Przystanek Międzylesie phase 2 Warsaw 108 Nov’24
Osiedle Przy Malborskiej phase 1 Cracow 90 May’24 Osiedle Wilno VII phase 1 Warsaw 60 Nov’24
Osiedle Jagiellońska 55 phase 1 Warsaw 134 Jun’24 Osiedle Wilno VII phase 2 Warsaw 126 Nov’24
Apartamenty Białej Koniczyny phase 2 Warsaw 71 Nov’24
Q3
Górka Narodowa 3 phase 2 Cracow 108 Jul’24 Górka Narodowa 3 phase 3 Cracow 147 Nov’24
Metro Zachód 4 phase 6 Warsaw 125 Jul’24 29. Aleja phase 1 Cracow 151 Nov’24
Osiedle Urbino 1 phase 2 Warsaw 180 Sep’24 Dynamika etap 1 phase 3 Tri-City 114 Nov’24
Osiedle Zielna etap 3 phase 2 Wrocław 72 Sep’24 Konstelacja etap 1 phase 3 Tri-City 51 Nov’24
Widoki etap 1 phase 1 Tri-City 92 Sep’24 Osiedle Harmonia Wrocław 173 Dec’24
Apartamenty Literacka phase 1 Warsaw 100 Dec’24
Metro Zachód 11 phase 3 Warsaw 89 Dec’24
Osiedle Zielna etap 3 phase 1 Wrocław 123 Dec’24
Osiedle Zielna etap 3 phase 3 Wrocław 7 Dec’24
Osiedle Przy Błoniach etap 3 phase 1 Tri-City 124 Dec’24
25. 25
PROJECT IN PREPARATION
PROJECT UNDER CONSTRUCTION
1
3
14
16
PROJECTS UNDER CONSTRUCTION AND IN PREPARATION: WARSAW
NO. OF UNITS, AS AT 31/12/2023
5
4
11
13
12
8 10
No INVESTMENT
UNDER
CONSTRUCTION
IN PREPARATION
1 METRO ZACHÓD 811 1 794
2 APARTAMENTY LITERACKA 100 443
3 APARTAMENTY KOŁO PARKÓW (CIOŁKA) 133 ---
4 HARMONIA MOKOTÓW 157 313
5 URBINO 319 765
6 OSIEDLE PRZY ALEJACH 122 274
7 BIELANY --- 494
8 OSIEDLE PRZY FORCIE --- 124
9 OSIEDLE PRZY RYŻOWEJ 405 ---
10 BEETHOVENA --- 570
11 APARTAMENTY BIAŁEJ KONICZYNY (PORY) 200 ---
12
OSIEDLE MOKOTÓW SPORTOWY
(ANTONIEWSKA)
--- 1 338
13 PALLADIUM (AKACJE) --- 522
14 OSIEDLE JAGIELLOŃSKA 316 --
15 WILNO 186 394
16 PRZYSTANEK MIĘDZYLESIE 108 ---
TOTAL WARSAW 2 857 7 031
2
15
9
6 5
7
26. 26
PROJECT IN PREPARATION
PROJECT UNDER CONSTRUCTION
1 2
3
4
PROJECTS UNDER CONSTRUCTION AND IN PREPARATION: TRI-CITY
NO. OF UNITS, AS AT 31/12/2023
No INVESTMENT
UNDER
CONSTRUCTION
IN PREPARATION
1 PERSPEKTYWA 306 ---
2 DOKI 498 489
3 DOLNE MIASTO --- 999
4 SYNTEZA 222 306
5 LEMA 189 ---
6 GDAŃSK WARSZAWSKA --- 350
7 WZGÓRZE HOPLITY (GDAŃSK KARTUSKA) --- 110
8 DYNAMIKA 114 ---
9 OSIEDLE BEAUFORTA 2 132 113
10 KONSTELACJA 82 490
11 GÓRA MARKOWCA --- 178
12 LOCUS 2 --- 150
13 OSIEDLE PRZY BŁONIACH 3 124 421
14 WIDOKI 156 60
15 LEŚNA GÓRA --- 90
16 GDAŃSK UCZNIOWSKA* --- 366
TOTAL TRI-CITY 1 823 4 122
12
8
9
8
6 7
11
10
13
15
5
14
16
* Land purchased in Q4 2023
27. 27
PROJECTS UNDER CONSTRUCTION AND IN PREPARATION: WROCLAW
NO. OF UNITS, AS AT 31/12/2023
2
3
4
6
6
6
7
6
2
5
2
8
10
1
9
No INVESTMENT
UNDER
CONSTRUCTION
IN PREPARATION
1 HUBSKA * --- 286
2 BRANIBORSKA 80 397 ---
3 OSIEDLE KOMEDY 115 ---
4 ZIELNA 202 88
5 APARTAMENTY NAD RZEKĄ 152 ---
6 OSOBOWICKA 114 82 ---
7 NOWODWORSKA 43 36 ---
8 MIĘDZYLESKA 159 248
9 OSIEDLE HARMONIA (STODOLNA) 173 ---
10 WOŁOWSKA --- 390
11 APARTAMENTY NAD OŁAWKĄ / KRAKOWSKA 88 177
TOTAL WROCLAW 1 404 1 189
11
PROJECT IN PREPARATION
PROJECT UNDER CONSTRUCTION
* Land purchased in Q4 2023
28. 28
PROJECT IN PREPARATION
PROJECT UNDER CONSTRUCTION
1
3
PROJECTS UNDER CONSTRUCTION AND IN PREPARATION: KRAKOW
NO. OF UNITS, AS AT 31/12/2023
1
2
2
2
No INVESTMENT UNDER CONSTRUCTION IN PREPARATION
1 GÓRKA NARODOWA 380 329
2 29 ALEJA 151 306
3 MALBORSKA 90 71
4 PARK MATECZNEGO --- 593
TOTAL KRAKOW 621 1 299
4
29. 29
Dom Development S.A. endeavors to ensure that the information in the presentation is complete, up-to-date and accurate. However, we do
not make any guarantees in this respect, and therefore Dom Development S.A. cannot accept any responsibility for the consequences of using such
information, and in particular for any damage caused by reliance thereon for the purpose of investment decisions. The information published in this
presentation originates from reliable public sources, and to the best knowledge of Dom Development S.A. it may be considered reliable.
Contact for investors :
Joanna Czwarno
tel. +48 600 759 296
e-mail: joanna.czwarno@domd.pl
www.inwestor.domd.pl
